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What to Look for in Corporate Tax Software 

 

 

Upgrading tax software is often a challenging task. With countless software packages available, knowing which software offers the best solutions for your accountancy business isn’t always obvious. 

There are many features and functions that may be suitable for your requirements, while you also want to avoid overspending on software that doesn’t offer the right solutions – finding the right corporate tax software is a balancing act that many accountants struggle with! 

Let’s take a look at what to look for in corporation tax software:

Cloud Based Software 

If you haven’t already migrated your corporate tax software to the cloud then now is the time. A cloud-based tax software offers a host of advantages that any accountant can utilise to great effect, including automating a variety of tasks, generated detailed reports, enhanced client database security, and much more. 

These functions help to streamline countless tasks that can save accountants invaluable time. The result is an increase in productivity and significant reduction in errors, which is especially important when filing corporate tax. 

Furthermore, cloud-based software is available 24/7 from any device with an internet connection, while updates to the software are automatically installed with little to no downtime, ensuring minimal disruptions to work. 

Integration with Other Software 

You’ll find that most accountants work on different types of tax returns and will use a variety of accountancy software solutions such as Xero, Clear Books, and QuickBooks, not to mention software for other types of tax returns (e.g. self-assessment, practice management, MTD). 

Because of this, it’s always recommended that the corporate tax software is easily integrated with other popular accountancy and tax software. Doing so allows databases and other important information be shared across different software, streamlining processes and eliminating the need to manually re-enter data. 

Usability 

The entire point of using corporate tax software is to streamline processes that help increase efficiency and reduce errors. Without a user-friendly interface and ample training solutions, the tax software doesn’t not offer any of these advantages, so you need to look for software with suitable usability. 

For example, user guides and other tutorials are useful for helping staff learn the basics of the software and how to use certain features that they may be unfamiliar with. Better still, if the vendor offers on-site training you can ensure all staff are appropriately trained in a shorter time frame. 

Technical support should also be offered, as you don’t want any problems with the software to cause any disruptions to your work. The best corporate tax software solutions usually offer diverse training solutions and design the system to be user-friendly from the offset. 

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